Pan American Lithium Corp. Announces New Advisory Agreement and New Corporate Secretary
July 31 2012 - 1:24PM
Pan American Lithium Corp. (TSX-V:PL)
(OTCBB:PALTF)
("Pan American" or the "Company"),
www.panamericanlithium.com, the Company announces that it has
retained Jordan Advisor Group ("Jordan") through a consulting
agreement under which Jordan will assist Pan American as a
corporate finance advisor. In consideration for these services, and
subject to approval by the TSX Venture Exchange (the "TSXV"), the
Company will pay $8,000 per month to Jordan, payable in shares of
the Company's common stock (each, a "Share"). The number of Shares
to be issued to Jordan is determined by dividing: (a) $24,000 (for
each three (3) month period); by (b) the closing price of the
Shares on the TSXV on the last trading day of each three (3) month
period. In no event shall the total number of Shares issued to the
Consultant for any three (3) month period exceed 400,000 Shares, or
in total more than 1.6 million (1,600,000) Shares for the term of
the agreement as it may be extended. The Shares issued under the
agreement will be subject to a 4-month hold period in accordance
with the policies of the TSXV and applicable securities laws.
The Company also announces the termination of its agreement with
NuWa Group, LLC ("NuWa") announced on July 9, 2012. No
consideration was paid to NuWa.
Additionally, Pan American has appointed Aryn Gruneisen as the
corporate secretary. She replaced Jodi Henderson.
About Pan American:
Pan American has rights in ten lithium-bearing salars in Chile's
Atacama Region III covering cumulatively more than 19,000 hectares,
including the Laguna Verde surface brine lake.
On Behalf of the Board
PAN AMERICAN LITHIUM CORP.
/s/ Andrew Brodkey
Andrew A. Brodkey
President and CEO Tel: (520) 623-3090
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Aryn Gruneisen, Corporate Secretary
1-520-989-0032
Email: agruneisen@kriyah.com
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